Real estate predictions for 2015
The real estate scene has been quite unpredictable in the last years, with huge decrease in prices and afterwards huge increases, however 2015 is predicted to be the year for settling into normality. That doesn’t mean the market will not fluctuate, it just won’t be as volatile as it has been in the past few years.
Analysts say that the price gains on previously owned homes has slowed dramatically in 2014 things will get back on track. We won’t see a boom in prices however the prices will slowly rise, in what might be a more natural trend. After the economic crisis of 2008-2009 the real estate market has rebounded at a fast pace, however in 2015 it’s predicted to go back to normality.
What does this mean for people in the market? Well, for the average person looking for a home things will not change so much. Even though the rise in previously owned property prices will happen at a slower pace it will still outrun the rises in salaries.
One of the good news in 2015 for average people looking to buy a house is that they buying frenzy we’ve seen in the last years will fade. What has happened is since prices plummeted people with large reserves of money bought a lot of property at prices much lower than they would normally be, this was business. Now that prices are at almost the same level as they were before the crisis it just doesn’t make for good business so the average family will have the opportunity to buy a house.